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Perhaps you have been wondering why you have not received any contributions into your Retirement Savings Account. The reason why could depend on whether you work in the Public or Private sector:
I work in the Public Sector:
The National Pension Commission ("PenCom") is responsible for remitting the contributions of people who work in the public sector. Except in a few public organisations that are not funded by the government.
In February 2007, PenCom started verifying the status (grade level and step) of Public Sector workers with Documentary Evidence before sending their contributions to their respective PFAs. PenCom also announced that from that point on, contributions will only be sent for workers whose documents have been verified.
Reason |
What to do |
| I have not sent the required documents to Stanbic IBTC Pension Managers. |
In February 2007, PenCom announced that contributions will only be sent for the clients who have forwarded the following documents to their PFAs:
In order of priority
- Most recent Payslip - Must be stamped and signed, bearing the Grade Level AND Step.
- Most recent letter of promotion - must bear the Grade Level AND Step.
- Letter of Appointment - Where staff has never been promoted, this letter can be sent provided it is not more than 3 years old and it must bear the Grade Level AND Step.
Therefore kindly send these documents to us via our representative offices. |
| I have sent the required documents to Stanbic IBTC Pension Managers but have not received any further information |
Once Stanbic IBTC receives your documents, we send them to the National Pension Commission for verification.
Therefore, if you have sent your documents and have not received confirmation of your contributions being sent to us, your documents are going through the verification process. As soon as your funds have been remitted to us, you will receive notification from us via SMS and email, as well as a letter from "PENCOM" confirming the transfer. We thank you for your patience in this regard. |
| I have not yet registered with a Pension Fund Administrator |
To register with us simply download our form at www.stanbicibtcpension.com. Our forms are also available at:
- Stanbic IBTC Bank Branches
- Zenith Bank Branches
- FBN and Oceanic branches.
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I work in the Private Sector:
| Reason |
What to do |
| I have registered with Stanbic IBTC but have not yet received a PIN. |
Stanbic IBTC Pensions is liaising with the National Pension Commission to give you your PIN and we will contact you via our free Transaction Alert System, T-ALERT, to let you know once you have got your PIN. |
| I have not yet given my RSA PIN to my Human Resources or Personnel department. |
Kindly send your RSA PIN and Pension Fund Custodian details to your Human Resources department. |
| Your Employer has not sent us money, or we have received money without the required accompanying schedule. |
Our Relationship Management Unit may also be liaising with your Human Resources department to obtain the required list of employees. |
| Your Employer has paid your contributions to our PFC, however the funds have not yet cleared. |
As soon we receive value for your contributions and we credit your RSA, you will receive notification from us via SMS and email via our free Transaction Alert System, T-ALERT. |
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